Tourism Sector, Highest Inland Revenue Contributor for Maldives

Maldives Promotion House – Maldives Inland Revenue Authority (MIRA) has published their monthly revenue collection statistics revealing that the authority had a collected a total MVR 648.7 million in total revenue during March 2012. This is a 59.5 percent (MVR 406.8 million) increase compared to the corresponding period of 2011.

Some 30.2 percent of the total revenue was collected from Tourism Land Rent, while 28.4 percent and 11.7 percent represents revenue collected from GST the tourism sector and Tourism Tax respectively. GST from non-tourism sector contributed an 11.5 percent of the total revenue for March.

Statistics also show that 78.5 percent of the total revenue collected during March 2012 represents dollar receipts, which amounts to USD 33.2 million compared to last year’s USD 30 million.

Tourism Land Rent and GST from the tourism Sector were the highest contributors to Revenue collected in USD, which represents 38.5 percent and 36.2 percent respectively. MIRA had collected MVR 1.3 billion as total revenue in the first two months of 2012.

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